Dates

If you are in business long enough, the need for a debt collector will become inevitable. When it is time to collect on unpaid debts, you can eithertry to handle everything yourself or outsource your collection efforts to a third party.

The month of December is the most pivotal month of the year for many companies. With many companies closing their doors between Christmas and New Year's Day, year-end payments are often not processed until mid to late January.

Sustaining growth in a dog-eat-dog marketplace is becoming increasingly difficult. At times, it can seem as if there is a glass ceiling for domestic trade that is impossible to break through. Expanding into emerging international markets is an excellent way to maintain an edge in an increasingly competitive business environment.

When you're in business a bounced cheque or direct debit can feel like a major blow. However, it's not all bad news… That's because the payment failure represents solid evidence, not only that you are owed money, but also how much.

If you go to court to collect money, the burden of proof is on YOU to prove the defendant owes it. That means you need to present a watertight portfolio of evidence in order to get the judgment you want. The best evidence by far is a written contract, but even these can containambiguities about who is liable. Just look at this scenario:

Debt collection calls, whether you're making them or receiving them, are loathed by many but are vital for any business wanting to keep their cash flow healthy. Calling for unpaid debts needn't make you the bad cop and if you're ever at a loss for words mid-call we've got a few phrases and tips to help you.

You certainly know that chasing late payments can prove to be an incredibly time consuming and frustrating process. Credit controllers and account receivables work hard to guarantee the business has enough working capital, but with certain debts their options start running out. It is at this stage that a solicitor must be instructed to set the stage for potential legal action - at a price.

Late payment for goods or services can be fatal for your business. That's because financial liquidity is the oxygen that any business needs to survive. However, there is something you can do… Just take a look at Jane's story:

Late payment and debt collection are regrettable but inevitable aspects of business life that are likely to continue for the foreseeable future; the debt recovery process is not one that any supplier wants to find itself caught up in.